What Jane Austen and the G7 have in common

EM PRIDE AND PREJUDICE

How pride and prejudice colours our perception of emerging markets

The words ‘pride’ and ‘prejudice’ may most readily be associated with the tale, penned by Jane Austen, about manners, morality and marriage among England’s landed gentry in the nineteenth century. But they also encapsulate much of the West’s view of the developing world now, in the opinion of Jerome Booth, head of research at EM managers Ashmore. As reality dawns in coming years, Booth says, developed world investors will increasingly ask, ‘how does the EM world affect the developed world?” rather than their present approach of believing what really matters is how developed, ‘core’ ec...